The number of home repossessions in the first six months of 2007 has risen by almost a third compared with the same period in 2006, according to the Council of Mortgage Lenders.
A survey conducted by CML has found that 14,000 properties were taken into possession in the first six months of this year, a rise of 18% compared with the second half of 2006 and 30% more than in the first six months of last year. The research also found that mortgage arrears are rising, with an estimated 125,100 mortgages in arrears of three months or more at the end of June, a 4% rise compared with the end of December but 3% lower than June last year. Around 1% of all mortgages are in arrears. According to CML, the number of possessions has risen more sharply than arrears during the p...
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